The dollar started in Asia on a slightly firmer note vs the Japanese yen as yen crosses also edged higher on anticipation of another rise in Japanese stocks. The positive open in the Nikkei 225 indeed helped dollar-yen up to a Y102.15 high in Asia this morning but it failed to beat last night’s Y102.17 US session high. Soon after, dollar-yen began to retrace the early gains and pulls back to a Y101.93 low in line with lower yen crosses, particularly aussie-yen which fell to morning lows at Y91.01 about the same time. Dollar-yen recovered some ground later in the session and then spent the rest of the dayhovering on either side of Y102.00 as the market sat back and waited for tonight’s US non-farm payrolls data for further leads. Dollar-yen was last at Y102.04 while euro-yen was last at Y138.69 after marking a Y138.85 to Y138.51 Asian range today. The Y101.25 overnight low in the US serves as immediate dollar-yen support, while stops are seen above at Y101.55.
